A contract for the construction of the first phase of the EADG healthcare center project was recently signed in Addis Ababa, by the Ethio-American Doctors Group (EADG) and the China Civil Engineering Construction Corporation (CCECC).
Within three years, the first phase of the project will see the construction of a state-of-the-art hospital that will offer quality medical care. Tesfaye Fanta, president of EADG, and Li Minggang, managing director of CCECC, signed the agreement.
The president of the Ethio-American Doctors Group stated that the EADG healthcare center project’s goal is to run a high-standard medical center that draws medical tourists to Ethiopia. The local staff, according to him, will benefit from the project’s transfer of medical knowledge.
Also Read: W.A Cement Factory to be built in Ethiopia at a cost of US$ 1bn
He also said that they aim to develop medical tourism in the country. Due to its significant social impact, the president continued by saying that they believe the project is of national interest. The construction of the multi-specialty hospital project, which EADG expects will be completed in 2 to 3 years, is the objective of the signing agreement with CCECC.
Over 12 million dollars have already been raised by EADG members. It is said that the hospital’s design and foundation have been completed. CCECC will handle most of the remaining work.
EADG healthcare center project cost and funding
A budget of 5 to 6 billion birrs is needed for the EADG Health Care Center project. It was revealed that EADG is in the process of selling stakes to domestic and foreign investors. Additionally, EADG will obtain bank loans in order to cover the expenses.
The president noted that EADG will work on specialized facilities, training, and research in the second phase. Additionally, it will build institutions to support the medical center in the third phase.
The hospital will be a landmark in Addis Ababa as well as a sustainable building. It will inspire changes in Ethiopia’s health sector, according to CCECC Managing Director Li Minggang. A center of excellence and an accredited tertiary hospital were the objectives of EADG’s legal incorporation as a C-Corp (for profit) in North Carolina in May 2011.
It has expanded from 12 to more than 350 physicians and other healthcare practitioners.
